Mangalam Industrial Finance Limited has shut its trading window for insiders effective July 1, 2026, in compliance with regulatory norms ahead of its upcoming quarterly earnings announcement. The closure applies to all promoters, directors, designated persons, and their immediate relatives, prohibiting the buying, selling, trading, pledging, or dealing in the company's securities. This measure ensures compliance with the SEBI (Prohibition of Insider Trading) Regulations, 2015, and the company's internal Code of Conduct for preventing insider trading.

The trading window will remain closed until 48 hours after the declaration or publication of the unaudited standalone financial results for the first quarter ending June 30, 2026. The company stated that the date of the board meeting for the results declaration will be intimated in due course. Venkata Ramana Revuru, Managing Director, confirmed the development in a communication to the stock exchange.

Key Details of the Trading Window Closure

The restriction is part of standard corporate governance practices adopted by Mangalam Industrial Finance to prevent the misuse of unpublished price-sensitive information (UPSI). The company's Code of Internal Procedure and Conduct mandates this blackout period to ensure fair market practices during the financial results dissemination process.

Mangalam Industrial Finance Limited’s statutory auditor, M/s Mahesh Udhwani & Associates, resigned effective May 14, 2026, due to non-receipt of required information and records. The auditor stated in their resignation letter that they were constrained in discharging their professional responsibilities satisfactorily despite repeated requests. The firm noted that the resignation creates a casual vacancy which the company intends to fill by appointing a new statutory auditor.

The resignation was intimated to the stock exchange on June 18, 2026, pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company attributed the delay in submitting the disclosure to an inadvertent and unintentional administrative oversight. It clarified that there was no intention to withhold material information from shareholders or investors.

M/s Mahesh Udhwani & Associates was initially appointed on August 23, 2021, and reappointed at the 40th Annual General Meeting (AGM) on September 2, 2023. Their current term was scheduled to expire at the conclusion of the 43rd AGM to be held in 2026. Prior to their resignation, the firm had submitted audit reports dated May 29, 2026, on the company's standalone financial statements for the year ended March 31, 2026.

The auditor confirmed there were no other material reasons for the resignation beyond those stated in the letter. They also indicated they would file Form ADT-3 as required under the provisions of the Companies Act, 2013. The company has stated that the necessary steps to appoint a new statutory auditor will be taken and intimated to the stock exchange in due course.

Auditor Details